MoneyPot - Crash with the lowest house edge

[Bitinity]

Crash hunt competition in games and round sections would be an excellent addition. I am sure players would like to play in a casino with such a low house edge. This platform needs a little more exposure all over the forum and the internet as well.

Competition is always nice but I think it should be also available on the site. They can run special bitcointalk competition although I'm not sure if the interest will be good enough. As proven by many other competitions in this forum, the number of participants is not that big. We have so many active members in the gambling board but only few of them are real gamblers who will be willing to participate in such competition. On site promotions/competitions will be a better option to give something back to real players.

[1714516272]

1714516272

[1714516272]

1714516272

[1714516272]

1714516272

[1714516272]

1714516272

[Bureau]

Just visited the website as of now I have been exploring the different pages. I saw that they are only accepting Bitcoin at the moment and I hope they continue to do the same. The even have launched their signature campaign and I was expecting them to launch a few Bitcointalk exclusive offers to gain more members. Need more games as after sometime people get bored by playing the same game. If they want user return back then more games would be a good idea & continuous new offers for the community.

[hopenotlate]

-cut-
I acquired the source code from Daniel a couple months ago, after having helped with its development for several years.
-cut-

Did Daniel confirm that bolded part somewhere?

This is the first time I hear of Provably Honest
 site/service and also checking their whois datas,

Code:

Domain:
provablyhonest.com
Registrar:
CloudFlare, Inc.
Registered On:
2023-05-23
Expires On:
2024-05-23
Updated On:
2023-05-23

if I get them correctly, they launched just recently (just 12 days after the creation of your account here, likely just a coincidence) : are you affiliated in some way with their business? And are you aware of other gambling sites using their services?
Asking because not having am IT background am not able to properly read their API documentations by myself and am just trying to get a general idea.


Another question: will you stick to Bitcoin only or do you plan to allow some other currency ? 

Dont get me wrong , am not trying to insinuate doubts on your business on the contrary, I'm considering participating in the bankroll and I wanted to clear up some small doubts first : here is last one



until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

Sorry for the fire of questions and good luck with your new business

[JackpotRacer]

Making the deposit addresses or transactions public would be a violation of the inverstors' privacy, so I can't do that. But you don't really have to take my word for it. If MoneyPot doesn't have enough funds to backup what the bankroll shows, soon enough players will discover they can't withdraw their profits. And that would be the end of the casino 

are you serious?

You are saying that players should play and risk their money and if they do not get paid then they know they are f*cked? please correct me if I am wrong.

I am sure there are ways you can prove that the bankroll is what you say it is.

cheers

[Mahdirakib]

until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

It will bring losses to MoneyPot team if they still share commissions with the user while the 'investors profit' is down from the 'investors all time high profit'. Because, they have already given the commissions while the house was making profit. Moreover, MoneyPot bankroll is down 2.7+ Bitcoin now. They will start sharing the commissions again when the ATH profit of investors will be regained. MoneyPot has used the same concept of Bustabit here.

[so98nn]

until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

It will bring losses to MoneyPot team if they still share commissions with the user while the 'investors profit' is down from the 'investors all time high profit'. Because, they have already given the commissions while the house was making profit. Moreover, MoneyPot bankroll is down 2.7+ Bitcoin now. They will start sharing the commissions again when the ATH profit of investors will be regained. MoneyPot has used the same concept of Bustabit here.

That is the clarification required here right now. :-)
It seems the current negative investor profit is due to the heavy price drop of Bitcoin. Since all the investments and profit sharing happens in terms of Bitcoin then we can safely say that investors are temporarily in the loss and if they hold on to moneypot then there is chance they will come to the normal commission one more time.

I also have one question in terms of price change. If drop in the price can affect investments in negative ways then does it mean if reverse thing happens as if bitcoin price is rising a lot then would it give more commission in terms of Bitcoin? I just hope it should be the same case in both the ways.

[hopenotlate]

until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

It will bring losses to MoneyPot team if they still share commissions with the user while the 'investors profit' is down from the 'investors all time high profit'. Because, they have already given the commissions while the house was making profit. Moreover, MoneyPot bankroll is down 2.7+ Bitcoin now. They will start sharing the commissions again when the ATH profit of investors will be regained. MoneyPot has used the same concept of Bustabit here.

Am not sure the word "commission" written on the screenshot I posted is referred to what you are talking about ( the commission on the profits Moneypot takes  whenever tatal bankroll exceeds the previous all-time high and corresponds to 60% of the difference between new ATH and old ATH) : as per my understanding that 3% written there is the "dilution fee" ( set up to incentivize long term investors and to reward earlier investors) that is deducted whenever someone invest into site bankroll.
Maybe using that same definition "commission" may induce in some misinterpretation.  

until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

It will bring losses to MoneyPot team if they still share commissions with the user while the 'investors profit' is down from the 'investors all time high profit'. Because, they have already given the commissions while the house was making profit. Moreover, MoneyPot bankroll is down 2.7+ Bitcoin now. They will start sharing the commissions again when the ATH profit of investors will be regained. MoneyPot has used the same concept of Bustabit here.

That is the clarification required here right now. :-)
It seems the current negative investor profit is due to the heavy price drop of Bitcoin. Since all the investments and profit sharing happens in terms of Bitcoin then we can safely say that investors are temporarily in the loss and if they hold on to moneypot then there is chance they will come to the normal commission one more time.

I also have one question in terms of price change. If drop in the price can affect investments in negative ways then does it mean if reverse thing happens as if bitcoin price is rising a lot then would it give more commission in terms of Bitcoin? I just hope it should be the same case in both the ways.

I exclude that it's the case : I truly believe that the price of bitcoin does not have the slightest influence on the site's profits/losses. The latter solely depend on how much players lose/win on the site regardless of the btc price

[sunsilk]

Welcome back, moneypot!

I knew it that there was you long time ago and it's mind boggling me if it was the same name or not but it was. I didn't know that there was an acquisition that did happened because I was not really following your history.

Anyway, glad to see you around again.

[leomedina]

To uphold our commitment to fairness, we will not impose wagering requirements on our bonuses, promotions, or any other incentives we offer our players.

What might the criterion be in dishing out bonuses as we all know, this is one of the most abused parts to promotion. To not have a criterion in place might lead to a rush towards exploitation. As much as the casino hopes to protect customers, what’s in place to avoid bonus exploitation as you ought to protect yourself from malicious acts from customers as well.

We've been having small giveaways but don't have any promotions in place yet. We certainly don't want people to take advantage of them, so when that happens, I will make sure we take the necessary precautions.

Nice to see Moneypot growing. I just checked the stats, and it's not bad for a new startup. 371 BTC was wagered already; unfortunately, the Investors' profit is -2.54 BTC already. I know that house always wins in the long run, but how long does it take to get back to the profit? Of course, Moneypot also needs more active players and some high rollers. 

It's hard to say. Bankroll investments are highly volatile, and their expected rate of return can vary a lot depending on the size of the bankroll, Bitcoin's price, investments or divestments being made, how lucky players are, etc. But in the long run, it's expected to make money. That's why I recommend seeing it as a long-term investing option.

This is the first time I hear of Provably Honest site/service and also checking their whois datas,

Code:

Domain:
provablyhonest.com
Registrar:
CloudFlare, Inc.
Registered On:
2023-05-23
Expires On:
2024-05-23
Updated On:
2023-05-23

if I get them correctly, they launched just recently (just 12 days after the creation of your account here, likely just a coincidence) : are you affiliated in some way with their business? And are you aware of other gambling sites using their services?
Asking because not having am IT background am not able to properly read their API documentations by myself and am just trying to get a general idea.

We are not affiliated in any way, but we are the first casino to work with them. What they had mentioned to me was that other casinos showed interest in using their Vx service, but I don't know the details.

until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

No, you can invest without having to pay a dilution fee until I announce that the commission-free period has ended. But that won't happen until the bankroll grows a bit more.

until i see this message displayed I can invest without commission or is there the risk that it will become outdated ( the 3BTC quota has been reached and for some reason it is still there)?

It will bring losses to MoneyPot team if they still share commissions with the user while the 'investors profit' is down from the 'investors all time high profit'. Because, they have already given the commissions while the house was making profit. Moreover, MoneyPot bankroll is down 2.7+ Bitcoin now. They will start sharing the commissions again when the ATH profit of investors will be regained. MoneyPot has used the same concept of Bustabit here.

Am not sure the word "commission" written on the screenshot I posted is referred to what you are talking about ( the commission on the profits Moneypot takes whenever tatal bankroll exceeds the previous all-time high and corresponds to 60% of the difference between new ATH and old ATH) : as per my understanding that 3% written there is the "dilution fee" ( set up to incentivize long term investors and to reward earlier investors) that is deducted whenever someone invest into site bankroll.
Maybe using that same definition "commission" may induce in some misinterpretation.

The dilution fee is 0 until new notice. That 3% really is our commission rate right now:

Whenever the bankroll's profit exceeds its previous all-time high, MoneyPot will receive a commission on the profits exceeding the previous all-time high. For example, say the bankroll's profit all-time high is 100 BTC, its current profit is 99 BTC and players combined lose a total of 4 BTC in a round. 3 BTC of that is net profit (exceeding the previous all-time high), so with a commission rate of 3% MoneyPot would receive 0.09 BTC and the remaining 2.91 BTC would go to the bankroll (investors). The commission is charged in real time, so investors can invest and divest whenever they like.

What that means is that it might be a good time to invest, because the house receives very little commission at the moment

[goldkingcoiner]

Is there a link to your open source code? Since you mentioned your crash game to be probably fair, I assume it's an open sourced crash game?

Furthermore, with only a 0.1% house edge, how do you secure yourself from unexpected and frequent losses? Are there any amounts at which problems arise because of how much you can win/lose at once?

If you were to only use a non dynamic house edge, then from a mathematical standpoint it does not seem feasible for the casino to make a reasonable profit without an extremely large amount of players and a billionaire's bankroll. And since you use a dynamic house edge, why advertise 0.1%? It won't be 0.1% anyway.

Is it possible that the house edge becomes higher than that of other crash game providers?

[Mahdirakib]

And since you use a dynamic house edge, why advertise 0.1%? It won't be 0.1% anyway.

They aren't advertising the casino by saying 0.1% house edge. They are saying that MoneyPot has the lowest house edge. At the same time, they also mentioned that it is dynamic.

Is it possible that the house edge becomes higher than that of other crash game providers?

Yes, the house edge of MoneyPot could be a lot higher than the standard 1% HE of crash game. In MoneyPot, the house edge may reach up to 10% in a single round when the total profit amount reaches near to the max profit limit. Check it out to know how the house edge of MoneyPot works: What is the house edge?

[husseinhere]

if I get them correctly, they launched just recently (just 12 days after the creation of your account here, likely just a coincidence) : are you affiliated in some way with their business? And are you aware of other gambling sites using their services?
Asking because not having am IT background am not able to properly read their API documentations by myself and am just trying to get a general idea.

Hi hopenotlate,

To answer your question directly, I am dealing with MoneyPot at arms-length. And there are other casinos who are testing out ProvablyHonest services, but likely will not launch with it for at least another 6 months.  ProvablyHonest has been in development for quite a long time, just the domain was to launch under was only recently resolved.


And to answer your question more practically: You should assume that MoneyPot and ProvablyHonest are the same entity and conspiring. You should assume we are have a strong relationship and abusing it. The entire system was actually built upon the premise:

MoneyPot should assume that ProvablyHonest and the player are conspiring. [So all outcomes it can verify itself, based on this]
Players should assume that MoneyPot and ProvablyHonest are conspiring.  [All provably fair guarantees remain!]
ProvablyHonest should assume that MoneyPot and players are conspiring [e.g. it's playing on it's own site]


Even under this "worst case" assumption, the guarantees are identical to any other provably fair casino.  But if the assumption is not correct, then there's additional security and verifications guarantees. But the really important point I want to stress is that there's no reason you should or need to believe they are separate entities.


FWIW the "additional guarantees" that ProvablyHonest offers are actually pretty minor in crash. ProvablyHonest works much better for an atomic game like "dice". Really the main winner here is actually just MoneyPot not needing to store a long-lived secret that if seen would compromise all future games and lead to the site easily be abused.

[hopenotlate]

if I get them correctly, they launched just recently (just 12 days after the creation of your account here, likely just a coincidence) : are you affiliated in some way with their business? And are you aware of other gambling sites using their services?
Asking because not having am IT background am not able to properly read their API documentations by myself and am just trying to get a general idea.

Hi hopenotlate,

To answer your question directly, I am dealing with MoneyPot at arms-length. And there are other casinos who are testing out ProvablyHonest services, but likely will not launch with it for at least another 6 months.  ProvablyHonest has been in development for quite a long time, just the domain was to launch under was only recently resolved.


And to answer your question more practically: You should assume that MoneyPot and ProvablyHonest are the same entity and conspiring. You should assume we are have a strong relationship and abusing it. The entire system was actually built upon the premise:

MoneyPot should assume that ProvablyHonest and the player are conspiring. [So all outcomes it can verify itself, based on this]
Players should assume that MoneyPot and ProvablyHonest are conspiring.  [All provably fair guarantees remain!]
ProvablyHonest should assume that MoneyPot and players are conspiring [e.g. it's playing on it's own site]


Even under this "worst case" assumption, the guarantees are identical to any other provably fair casino.  But if the assumption is not correct, then there's additional security and verifications guarantees. But the really important point I want to stress is that there's no reason you should or need to believe they are separate entities.


FWIW the "additional guarantees" that ProvablyHonest offers are actually pretty minor in crash. ProvablyHonest works much better for an atomic game like "dice". Really the main winner here is actually just MoneyPot not needing to store a long-lived secret that if seen would compromise all future games and lead to the site easily be abused.

Thanks for chiming in. Your explanation about the "trilemma"  that the system you have set up solves makes completely sense.
May you please explain a bit more in details PH offer more guaranteee to dice game ( what do you mean by atomic?) than crash?

[husseinhere]

Thanks for chiming in. Your explanation about the "trilemma"  that the system you have set up solves makes completely sense.
May you please explain a bit more in details PH offer more guaranteee to dice game ( what do you mean by atomic?) than crash?

Just to avoid side-tracking this thread with stuff about ProvablyHonest, I replied on my PH thread: https://bitcointalk.org/index.php?topic=5457142.msg62734550#msg62734550

[leomedina]

Is there a link to your open source code? Since you mentioned your crash game to be probably fair, I assume it's an open sourced crash game?

No, the code is not open-source and in fact it doesn't need to be in order for the game to be provably fair. What we mean with that is that players are able to verify that the outcomes have been fair and that we couldn't influence them to favor the house. You can verify them yourself, using Provably Honest's game verification page, or with an open-source verification tool like https://stackblitz.com/edit/moneypot-verifier?file=index.js&view=editor.

[Synchronice]

I'm thrilled to announce MoneyPot.com, a Bitcoin crash game with the lowest house edge. What sets MoneyPot apart from other online casinos is that we start with a house edge of 0.1% and only increase it as little as necessary. We invite you to check out our

Your calculator isn't probably very accurate because as I increase the range, at some point it fails to show your and their statistics.
Your house edge looks really attractive not only for small betters but even for those who bet high because the house edge only grows when you really bet a lot and increase payout.
By the way, your website and the other two ones are looking very much alike. What about to change user interface? I don't know what others think but to my mind, it's not attractive and makes me wonder which website do I really visit. I mean, I think you need a brand identity and some visual uniqueness.

[leomedina]

Your calculator isn't probably very accurate because as I increase the range, at some point it fails to show your and their statistics.
Your house edge looks really attractive not only for small betters but even for those who bet high because the house edge only grows when you really bet a lot and increase payout.

That was intentional, but I now realise we need to do a better job explaining what it means. When you don't see any results, it means one of two things:

1) the casino cannot accept the bet
2) the casino can accept the bet but it would have forced you to cash-out before that payout

If you decrease the bet amount and/or payout, you will see its statistics again. Another thing you might have noticed is that MoneyPot is able to accept bets that the competition can't. The way casinos like bustabit work is that they use the Kelly formula to decide whether or not they accept a bet. I.e., it tells them what portion of their bankroll they can risk. What MoneyPot does is that it adjusts win probabilities such that we give players the best possible odds while still being acceptable to investors under the definition that bustabit would use. What this means is that our house edge will be adjusted in accordance with how much the bankroll is risking. And that's the reason we can take bets that other casinos would consider too risky.

By the way, your website and the other two ones are looking very much alike. What about to change user interface? I don't know what others think but to my mind, it's not attractive and makes me wonder which website do I really visit. I mean, I think you need a brand identity and some visual uniqueness.

I still don't have a timeline, but we are working on it 

[komisariatku]

I've signed up at Moneypot. I see not many crypto options to play with there. Will you be adding other cryptos to play in the future? to be honest I don't like playing with bitcoin, because it has to input a lot of 0, I prefer tron. Hopefully there will be tron ​​in the future. 

[Haunebu]

Just checked your site out and I loved the overall design and UI. Am a big crash fan myself and the fact that you guys are offering your game with a 0.1% HE for the lowest multiplier is truly epic.

Can you clarify whether it's alright to create multiple accounts on your site without abusing any promotions etc?

[BitcoinGirl.Club]

Can you clarify whether it's alright to create multiple accounts on your site without abusing any promotions etc?

Why would anyone need a multi account? Isn't it a common practice in gambling sites not to have multi account or your will be banned or lose your money with them?

I've signed up at Moneypot. I see not many crypto options to play with there. Will you be adding other cryptos to play in the future? to be honest I don't like playing with bitcoin, because it has to input a lot of 0, I prefer tron. Hopefully there will be tron ​​in the future. 

As far as I saw, they are Bitcoin Crash site. So, I think expecting any other currency will be too ambitious expectation.